Seven Fleet Capital Management LP Grows Stock Position in Axsome Therapeutics, Inc. $AXSM

Seven Fleet Capital Management LP raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 105.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,826 shares of the company’s stock after purchasing an additional 14,771 shares during the quarter. Axsome Therapeutics makes up approximately 1.2% of Seven Fleet Capital Management LP’s portfolio, making the stock its 19th largest holding. Seven Fleet Capital Management LP owned 0.06% of Axsome Therapeutics worth $7,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXSM. Kemnay Advisory Services Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter worth about $31,000. Hollencrest Capital Management grew its stake in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics during the fourth quarter valued at approximately $37,000. Advisory Services Network LLC bought a new stake in Axsome Therapeutics during the 3rd quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC lifted its stake in Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $206.68 on Friday. The firm has a market capitalization of $10.83 billion, a PE ratio of -55.11 and a beta of 0.71. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19. The business’s 50-day moving average price is $223.81 and its 200-day moving average price is $207.48.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Wells Fargo & Company boosted their target price on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen upped their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada dropped their price target on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Roger Jeffs sold 286 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following the transaction, the director directly owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the transaction, the director owned 1,129 shares in the company, valued at approximately $267,810.09. This represents a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 193,229 shares of company stock valued at $44,752,676. 20.60% of the stock is currently owned by insiders.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.